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EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.0425, 1.0482, 1.0539

Key Support Levels: 1.0373, 1.0327, 1.0243

Daily Chart:

The price on the higher time frame has been consolidating for some time after a bearish run. The pair has formed a higher-low pattern and it has broken the upper trendline. There are rejection wicks seen which indicates a trend reversal. 

EUR/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price was trading in a range between 1.0327 and 1.0243 for some time and the upper range was broken recently. It has now broken a minor level of 1.0373 and retested before continuing the momentum.

Signal Idea:

Buy Limit Order @ 1.0394

TP 1 @ 1.0422

TP 2 @ 1.0478

Stop Loss @ 1.0366

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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